Israeli investors watch Kenya’s agricultural sector
The Israeli business community wants to invest in Kenya’s agricultural sector, which has yet to reach its full potential, a government official said on Tuesday.
Michael Lotem, Israel’s Ambassador to Kenya, told reporters in Nairobi, Kenya’s capital, that the country’s agricultural sector offers significant opportunities due to the presence of large tracts of arable land coupled with population growth.
“Israeli’s leading technology, financial and agricultural companies are exploring strategic business development and partnership opportunities that will improve Kenya’s food security,” Lotem said at the Kenya-Israel Agribusiness Roadshow.
He said Israeli companies have developed a technology that will allow Kenya to achieve food production with minimal use of water and soil resources.
The envoy noted that Israel is a leader in precision agriculture which involves the use of drones, sensors and farm management software to increase farmers’ yields.
Oscar Magenya, secretary for research and innovation at the Kenyan Ministry of Agriculture, Livestock, Fisheries and Cooperatives, said a vibrant agribusiness sector has enormous potential to be a strong driver of transformation.
Government data indicates that the agricultural sector contributes over 33% of the gross domestic product, employs 40% of the population and accounts for 65% of the country’s export earnings.
Magenya added that Kenya is seeking technologies from Israel that will reduce production costs and make locally grown agricultural products competitive in the global market.
He observed that Kenya will also leverage modern technologies to transition from a net food importer to a food exporter. Final article